Following its Third Annual General Meeting (AGM) in April 28, this year, MTN Nigeria resolved its dividend payment of N174.53billion which translates to N8.57 Kobo per every 2 Kobo ordinary share to be paid to shareholders whose names appear in the company’s Register of Members at the close of business on April 6, this year, bringing the total dividend for the year ended December 31, last year to N13.12, subject to withholding tax.

At the event, the leading technology company said the results of its first public offer on a digital platform.The initial 575 million share units offer was exceeded with an oversubscription rate of 139.47per cent.

To manage this surge in subscription, MTN Nigeria added 86.25million share units to the initial share units.

In all, 661.25 million MTN Nigeria shares were allotted and a total of 126,720 retail investors submitted valid applications and received full allotment. Other institutional investors such as pension funds, insurance companies, asset managers, corporates, and foreign portfolio investors who participated in the bookbuild were allotted 72.09per cent of their applications.

This includes Nigerian pension funds representing 6.5 million contributors. Nigerian investors across the country supported the offer through multiple channels such as Receiving Agents, Issuing Houses and PrimaryOffer, that is the digital application platform. More than 89 per cent of retail offer subscribers applied through the PrimaryOffer platform (via mobile and web).